How to Simplify Accounting Statements for Rental Property Owners

It is very important that rental property owners understand the activity in their account each month. This is, after all, their money and they should feel confident that their property management company is portraying to them an accurate and easily read accounting of where their money is coming from and what it is being spent…

It is very important that rental property owners understand the activity in their account each month. This is, after all, their money and they should feel confident that their property management company is portraying to them an accurate and easily read accounting of where their money is coming from and what it is being spent on.

One of the most common reasons I have seen rental owners change Property Managers is due to lack of communication in regards to their financials. If their funds are not reported to them in a logical fashion, on a consistent basis, it creates a lack of trust with their Property Management Company. This can also lead to the rental property owner feeling that they are being taken advantage of, even to the point of them feeling like they are being robbed!

So, how can this be invented? We prepare not only monthly financial reports, which rarely make sense to anyone who is not an Accountant, we also take a little extra time to give our reporting a personal touch. This includes providing all the transactions that have taken place in their account each month in a simplified, easy to read and understand Owner Statement Summary Sheet.

It is a great way for the financial team to become familiar with each owner's properties and cash flow so when you receive an occasional call you will already have the knowledge of their account.

Here is a list of items that can be extremely helpful to a rental property owner, when viewing their summary sheet:

• A section that includes a total dollar amount of revenue collected that month, broken out between rent, utility reimbursements, late fees, etc.
• A listing of which units have outstanding balances owed at the end of the month.
• A section that includes all expenses for the month. This does not have to be detailed, a simple line marked electric bills, or maintenance costs is insufficient. If they do need more detail of the specific charge and what it entailed, they can reference the financial reports, which will provide this information for them.
• A total amount of owner disbursements that were paid that month.

The summary sheet should always include the beginning balance in the owner's account, as well as the ending balance. The rest of the information does not do much good if the owner does not know where they stand when the month is over.

As I mentioned before, not all rental property owners are Accountants and do not want to take time digging through debts and credits. That is that the reason they chose a Property Management Company in the first place! They want to know what rent money came in, which tenants are delinquent and the largest question: Where is my money being spent?

How A Property Management Company Helps With Quality Renters

One of the toughest parts of being a property investor is finding an outstanding tenant to fill your vacancy. What makes an outstanding tenant? The two most important things are that the tenant pays their rent on time and cares for the property as if it were their own. According to MarketWatch.com, considerations for placing…

One of the toughest parts of being a property investor is finding an outstanding tenant to fill your vacancy. What makes an outstanding tenant? The two most important things are that the tenant pays their rent on time and cares for the property as if it were their own.

According to MarketWatch.com, considerations for placing a quality tenant in a property is more valuable than even the old adage of location, location, location when investing in the rental housing market. As such, this is one of the most valuable aspects of working with a property management company. A good property management company will find you rock star tenants that will not only pay the monthly expenses on time, but also keep the home looking as nice as it did the day they moved in.

But what do property management companies do to make that dream tenant a reality? We've highlighted some of the most important steps a firm can take to protect you and your investment.

The most important aspect to finding a quality renter is the screening process. A reputable property management company will utilize a nationwide screening company to ensure the most qualified candidates are found.

Several factors come into play when screening a potential renter. Things like criminal and sex offender history are good places to start. But beyond that, other items that will be checked include credit history, verify income, check rental history and search for past evictions. By thoroughly researching potential tenants, you can feel confident about the tenants you allow in your home.

Also, by being available to take applications online 24/7, a property management company will be able to swiftly process the applications received and get a quality tenant in your property faster than if you did it yourself.

A reputable property management company will also likely have a marketing department that will utilize as many resources capable to reach potential renters. This is particularly important because quality renters may seek out a reputable company that appears more legitimate than work with an individual one on one. With rigorous marketing, quality renters will gravitate toward properties represented by a reputable firm.

A good property management company will always strive to treat tenants with the utmost respect and address their needs swiftly. A tenant should feel that the home they inhabit is more than just a place to hang their hat, they should care for the property as much as if it were their own. Even the best tenant can become disgruntled and less than motivated to care for the property when they feel that they are not treated well and their concerns not addressed.

By working closely with the tenant, a property management company helps to keep the tenant happy and willing to do the little extras that keep up your investment. For many investors it is not possible or practical to build this relationship themselves and by letting a management company take over the work, you can rest assured the tenant will be happy to call your house their home.

Also, keeping a good quality tenant happy in the property means that they are more likely to renew, which will keep costs down and keep the steady stream of income from the reliable tenant coming in to you.

Finally, much in the same way that having a sign for a security company outside your home can act as a deterrent to burglary, association with a property management company may deter unqualified renters from applying in the first place. Often, those who can not meet the rigorous standards set forth by a property management company will seek out individual landlords who may not have the knowledge or resources to help find qualified candidates. When you partner with a property management company, you send the message to potential tenants that you are seeking quality and will not be taken advantage of.

How Do You Select The Best Property Management Software?

Property management can be a challenge, especially without the right tools. Getting the right software program is very essential in helping you streamline the process of handling your growing business and to keep it organized. More and more companies are eliminating paperwork by choosing software solutions that can handle all important functions including management of…

Property management can be a challenge, especially without the right tools. Getting the right software program is very essential in helping you streamline the process of handling your growing business and to keep it organized. More and more companies are eliminating paperwork by choosing software solutions that can handle all important functions including management of documents. But then how do you go about selecting the best property management software for your business?

Step 1 – Start by focusing on what you need

Avoid losing software that is an overkill or under-kill for your business. It is important that you evaluate exactly what you need the software program for; you can separate office accounting needs from property management needs to cut costs of the software program. Consider whether it is important for the system to help you with tenant background checks, liability and asset accounting and budgeting so you do not waste your time on a solution you really do not need. Whereas you do not want to go overboard when choosing the system, you also do not want to end up with a program that can not handle the most basic things for your business. It helps to at least ensure that the management software you set up for can automatically post management fees, rent and late fees, maintain separate ledgers for tenants and owners, easily update information via a friendly interface, handle different property types without additional module buying and deal with bank deposits and checks.

Step 2 – Check all important features

There are so many features that may not be that critical to the management process of the property, but they will prove to be valuable on your software. Some of the features that can make a difference in your system include reminder features to help track appointments, pop-up lists of owners and tenants owed you money, features that help check tenant info for log back payments and credit references, automated rent amount updates , automated account updates and other. The more you are able to do with the program the better the convenience you stand to enjoy running your property business.

Step 3 – Confirm support, reliability and reasonable pricing

Most property management software companies fail in offering the needed support. Some may even compel you to pay for software updates to enjoy technical support, whereas others may offer free support for a limited time frame and start charging for any support beyond that. Choose a support plan you can fully trust in and rely on. On the same line, you should take the mandate to check for any hidden costs when buying the software. Ask as many relevant questions as possible and read as much as you can about what you stand to gain using the solution before making the final purchase. It helps to choose a software program that is easy to install and use and one that comes with a comprehensive inbuilt help file. Keep off programs that require you pay for updates and research.

Helpful Tips For Better Real Estate Management

Managing rental properties can be a tedious process sometimes landing you into legal issues. As a property manager or owner, you should think about preventing problems even before they have to have an easier time maintaining order. Apart from making your tenants feel worthy, you should also find ways of making the management process easy…

Managing rental properties can be a tedious process sometimes landing you into legal issues. As a property manager or owner, you should think about preventing problems even before they have to have an easier time maintaining order. Apart from making your tenants feel worthy, you should also find ways of making the management process easy for you especially when handling large properties or multiple properties. When you are organized in how you handle your property, it becomes easier to keep everything in check and a few tips can help you put in the best measures into the management process.

Tip 1 – Get a professional property manager

If you are a property owner with little knowledge of how to go about management, you should consider getting a professional property manager to ease out the process for you. Professional managers with some knowledge and experience in the real estate industry will know exactly how to go about the process and find organizational solutions to ease everything out. When there is a manager in place, you will feel more at peace and have fewer issues to deal with.

Tip 2 – Embrace technology

There are very effective real estate management solutions available thanks to technological advances. Real estate management software is among the best solutions you can find to make the process easy and organized. Such a solution can improve communications and payments and data maintenance for the property. With the right system you will have an easy time collecting, returning and holding security deposits, as well as inspecting and documenting rental unit conditions before move-outs. There is just so much you can do with real estate management software to streamline processes so look for the best solution.

Tip 3 – Handle tenders appropriately

First of all you should consider screening tenants before allowing them into your property. It is a simple way of keeping troublesome characters off your property. It is also important that you put tenant landlord agreement in writing to keep things clear and ensure that you treat all ten tenants equally and without any discrimination. Discriminating prospective contracts based on sex, race, origin, disability or even familial status can land you into trouble. It is also important to respect their personal privacy even if the property is yours by notifying them prior to entering their rental units. Handling tenants appropriately will save you from a lot of trouble especially legally.

Tip 4 – Keep the property in top shape

Regular inspections are very important so you can make any improvements and changes where need be. Recklessness on your part leading to safety and security issues can lead to hefty losses in terms of compensations. You should there before make a point of making prompt repairs and considering having a security system in place to give your tenants the sense of security they deserve as well as ensuring that their safety is not compromised in any way.

Tip 5 – Oversee managers

They should be competent enough to keep your property in check. It is therefore important that as a landlord you choose and supervise property managers. Background checks and clearly spelling out their duties will prevent issues cropping out later.

The 7 Crucial Parts of the Application Process When Renting an Apartment / Home

Rental applications, whether submitted on line via a website or by hard copy, should go through a standard process to determine the eligibility of the applicable. Here are some criteria that should be considered. The process should always be the same for each applicable, remembering to always follow 1. Application fee. This will cover the…

Rental applications, whether submitted on line via a website or by hard copy, should go through a standard process to determine the eligibility of the applicable. Here are some criteria that should be considered. The process should always be the same for each applicable, remembering to always follow

1. Application fee. This will cover the costs of processing an application and should be paid with the application submission. Many companies charge between $ 30 and $ 60 per application.

2. Income. A good standard measure is an Income to Rent Ratio of 3.0, (gross monthly income of three times the monthly rent). This income could be from current employment, Government payouts such as SSI, Child Support, Assistance agencies such as Section 8, and Pensions. The Applicants must supply confirmation for all their income. An applicant which does not meet the 3.0 requirement may be required to have a Co-Signer who would also need to meet the requirements. For payroll income, it is best to have a current paystub which shows the Year-To Date income over a period of time, rather than a onetime payment amount.

3. Criminal Background. A good credit reporting service will give at least 10 years of law enforcement records on an applicant.

4. Eviction History. It is important to know if the applicant has had any evictions over the last 5 to 10 years.

5. Credit History. It is advantageous to use a service which gives a concise summary of the credit background. The important items are the number of positive and negative trade lines, past due amounts and current collections. Medical bills and student loan debt does not receive the same weight as outstanding charges from utilities and credit card accounts. A good report service will also give a list of civil judgments, bankruptcies, etc.

6. Rental History. Applicant should supply at least two years of verifiable residency. If the applicant is breaking a lease, they should supply a written release from the current landlord.

7. Age of Applicant. The applicant should be at least 18 years of age and all adult occupants should be required to complete a separate application and submit it along with income verification.

The preface to the rental application should enumerate items that would disqualify an applicant, such as eviction by previous landlord, undisclosed criminal record, conviction of certain crimes such as child abuse, current Bankruptcy proceedings, false information on the application, etc.

In keeping with the above criteria, this should enable one to determine the prospective tenant's ability to maintain the rental payments in a timely manner.

How Do You Know It’s Time To Get Real Estate Management Software?

There are endless opportunities in the real estate industry, but the truth is that it can get stressful to manage especially when you do not have all the necessary tools. When you are in the property business, you will not only need to put in measures to attract tenants and maintain them, but you will…

There are endless opportunities in the real estate industry, but the truth is that it can get stressful to manage especially when you do not have all the necessary tools. When you are in the property business, you will not only need to put in measures to attract tenants and maintain them, but you will also need to have proper management planning to ensure that you have an easy time keeping an eye on everything that touches on the property.

Real estate management software are designed to assist property owners, investors and property managers with an easier time managing the property. Sticking to traditional management practices that only accumulate documents that become harder to manage can be messy and tedious. When you have the right one you will have a swift process of getting things done, communicating and keeping things neat and organized so it is much easier to handle your real estate. You should consider getting the right real estate management software if:

You have challenges keeping an eye on payments. If there is something that really matters in real estate is tracking payments. If you find that you have issues keeping records of rental payments, tracking late payments and expenses related to the property, then it should be time to get yourself a solution. Paper records can be tough to keep up and you could end up losing cash and time trying to calculate and clarify them. The right real estate management software will give you a paperless way of tracking all payments and recording them as appropriate.

You experience delays in dealing with maintenance requests. Such delays lead to tenant dissatisfaction and this is not something you really want for your property. When you seem to have issues with your move-in and move out procedures and find it hard to keep up with the property needs, you should consider getting a little more organized. Getting real estate management software will save you from all the confusion that can end up harming the property as far as the tenancy is concerned.

You have missing documents and checks. They are the expected consequences of keeping up with traditional property management. You will end up losing money, especially when you can not seem to find checks sent to you by tenants or other important documents. Real estate management software makes it easy for you to maintain all important data. When you have a good solution handy, you will also manage to give your tenants an easy time making payments through the right channels without any chance of confusions.

You are overwhelmed by the tasks that need to be done. Property management can come with plenty of tasks to manage and it can be overwhelming for you or your property manager. Some management processes are too complex and apart from demanding lots of your time they can easily wear you out. Real estate management software offers that extra convenience layer to the tasks and processes so you have fewer things to do. It can do some of the tasks automatically saving you the time and energy you would have otherwise used to accomplish them.

Ways to Convince Your Tenants to Pay the Rent Online

Processing rent checks is usually both time-consuming and costly. It usually takes about five minutes and $ 2-3 per check. If you are expecting 500 checks monthly, this could take almost 42 hours and $ 12-15,000 every year. If you want a more cost-efficient and timely manner to collect rent, you can implement an online…

Processing rent checks is usually both time-consuming and costly. It usually takes about five minutes and $ 2-3 per check. If you are expecting 500 checks monthly, this could take almost 42 hours and $ 12-15,000 every year. If you want a more cost-efficient and timely manner to collect rent, you can implement an online rent collection system with the help of your web-based property management software, which allows you to cut costs in half. It also lets you avoid the dilemma of waiting for checks to appear in the mail or personally collecting the rent.

All you have to do is encourage your residents to agree to this program. You will probably not have any issues with your technically advanced tenants who already use online banking.

On the other hand, other tenants may not be in favor to this idea. In this regard, here are 10 ways to encourage your tenants to opt for online rent payment:

Give an incentive for paying online. You can reduce the rent by $ 20-30 to encourage your more thrifty tenants.

Give a 2-payment date option for online payments – for example, on the first and fifth of every month. This flexible payment option can motivate residents.

Offer an incentive for signaling up such as a $ 30 gift card from a restaurant.

Create a raffle to win $ 100 gift certificate from a local store, and let all those who sign up for online rent payment join.

Tell them that rent payments are reported to credit agencies nationwide, allowing them to boost their credit standing.

Explain why online payments are environmentally friendly. Nowadays, more people choose to go green.

Create an FAQ sheet and hand out to tenders. List the advantages given by online payments, which include the convenience of saving time on writing checks and avoiding late payment fees.

In the rental agreement, include the requirement to pay online (California and other states have laws that prevent this).

If they refuse to pay online, charge an additional service fee per month.

As a landord, be responsible. Whenever there are customer issues, respond immediately. Maintain your property well. When you look after your tenants, they will cooperate and more likely give in to your request to pay rent online.

Just like other issues, the most effective way to convince your tenants to pay rent online is to have constant communication and be transparent with them. The moment they realize how beneficial this could be to them and of course, you, they may be persuaded to sign up.

The Six Critical Elements of Great Ad Writing for Rental Properties

As marketing coordinator I write ads every day and follow the 6 rules below to make our ads standout. 1. HEADLINE / AD BANNER I write my Ad first and see what details jump out at me for the Ad Headline. Is it on tree-lined street? Is it near a park or something of interest?…

As marketing coordinator I write ads every day and follow the 6 rules below to make our ads standout.

1. HEADLINE / AD BANNER
I write my Ad first and see what details jump out at me for the Ad Headline. Is it on tree-lined street? Is it near a park or something of interest? Then I incorporated the most important items, like number of bedrooms, the address and points of interest into the headline. For example:
“3 Bedroom Condo for Rent – 123 American Drive – Award Winning School District”

2. USE KEY WORDS IN YOUR HEADLINE / AD BANNER AND THE AD
A keyword is generally a word or phrase that is a topic of significance. Prospective uses use keyword searches as a way to identify and locate a property that will suit them. They can enter this word when searching for a property online. For example:
“3 bedrooms”, “single family home”, “Valley Forge Park”, “fenced yard”, “pets allowed”

3. DETAILS, DETAILS AND MORE DETAILS!
Beyond the basics like number of bedrooms, bathrooms and square foot, include as many other details of the property that will appeal to your renter.
• Is there a microwave in the kitchen?
• Does the home have a washer and dryer?
• Does it have new windows or carpet?
• Is there a fenced yard?

Always include information about the home's neighborhood, access to public transit, shopping, school district, swimming pools or other area features that can effect a renter's decision to contact you.

We recommend that ads are written in bullet point statements versus a full sentence. This allows the reader to scan ads versus reading long sentences or paragraphs.

4. TAKE GREAT PICTURES!
Every prospective renter looks for a property that suits them financially and aesthetically. There is no greater turn off than too few photos, blurry photos or dark photos. Try to take as many photos you believe will result in a minimum of 10 great photos that capture the essence of the home. And be sure to capture both the exterior of the home and yard.
• Take pictures on a sunny day, everything looks better in sunlight
• Make sure blinds and curtains are open to maximize the natural light;
• Try for an angle to add dimension and visual interest (no corners of bedrooms!)
• Get rid of piled personal items in a room to let the room be seen, not personal stuff.
• Follow bathroom photo etiquette, put the lid down!

5. MAKE SURE YOUR RENTAL POLICY IF CLEARLY STATED
Although the rental price, security deposit, any fees and lease term are important, be very clear about any policies that could threaten the deal with the prospective renters. Make sure they understand pet policies, smoking in the property, parking and anything else that might affect their rental decision. Also, if the property is located within a housing community that has their own set of rules and regulations, be sure it is clear in your Ad that the residence is in a housing community.

6. FORMATTING THE AD ITSELF
There is sometimes a lot of information to include in the Ad. Paragraphs with lots of information and details are too hard to read and a prospective tenant will lose interest. Keep your Ad format the same each time and make it easy to read. Use bulleted short statements in a list versus long sentences in a paragraph. Make sure they are clear and concise and add value to the Ad.

If you follow these SIX critical elements your Ad will give prospective tenants the desire and confidence to see the property. And in representing your rental property well, your prospective tenants will be assured that they have found their new home!

10 Property Management Tips

Are you looking for some useful property management tips? If so, you may want to read the following 10 tips from experts in the field. With these tips, managing property will be a lot easier for you. Read on. Provide Important Information Make sure your customers and clients have access to the information about the…

Are you looking for some useful property management tips? If so, you may want to read the following 10 tips from experts in the field. With these tips, managing property will be a lot easier for you. Read on.

Provide Important Information

Make sure your customers and clients have access to the information about the properties. If you really want to get the listing, you should be able to share all the relevant information in an efficient manner.

Be Punctual

You should be committed as far as making arrangements for a meeting or appointment is concerned. Try your best to get to the meeting point at least a few minutes earlier. This is a good way of leaving great impression on your clients.

Presentation

You should be well dressed when seeing your clients. This will encourage your clients to treat you well. Moreover, your dress code will tell a lot about you.

Honesty

You should be honest while providing reports and statistics about your properties. Providing misleading or false information to clients is the best method to destroy your business. What you need to do is find a strategy to deal with the situation and get a solution instead of providing false information.

Marketing

You should market your property in an effective way. The vender may have unrealistically high hopes, but you should be realistic and should not agree to the price offers without taking the time to think about everything. After all, you do not want your property to sit vacant for months just because the price tag was too high.

Advertising

Advertising your property is of great importance. Make sure the advertisement is available at the right time. Therefore, you should be ready with a draft on time. Aside from this, it's better that you get approval from the vender prior to uploading the advertisement on your site.

Photography

Make sure you take some professional photos of the properties and upload them on your site. Ideally, it's a good idea to take at least 4 pictures of each property. The pictures should be taken from different angles. Putting a few videos along with photos is also a great idea.

Stay in Touch

You should send updates and reports to the property owners on a regular basis. As a matter of fact, maintaining great relationship with your clients pays. Losing a client is easier than gaining a new one. Therefore, you should stay touch with your clients.

Database

You should know your database. Your prospective clients should receive the same level of respect as do your existing clients. Therefore, it's a good idea to take a look at your list of clients from time to time.

Background checks

Make sure you do background checks on your tenants. What you need to do is do rigor background checks on the personal information, tenancy history and employment history of your tenants. This is a great way of making sure you are on the safe side.

In short, you should follow these tips if you want to do your property management in the right way.

Respectful Communication and Teamwork Leads to Success

There is an old saying that resonates in all aspects of life. “Respect is earned.” A very wise former Manager of mine reminded his staff that we must respect our customers at all times. In business, the customer is not our only client. Our co-workers are our internal clients. The customer is not always right,…

There is an old saying that resonates in all aspects of life. “Respect is earned.” A very wise former Manager of mine reminded his staff that we must respect our customers at all times. In business, the customer is not our only client. Our co-workers are our internal clients. The customer is not always right, but every person describes to be treated with respect and in adherence with the golden rule: “Treat others the way you'd like to be treated.” There will be times when these adages are not being followed by your customer.

Communication:

• It is okay to respectfully disagree with a client, however there's a right way and a wrong way to articulate the organization's point of view. The resolution to an issue may or may not address the client's concern form his or her perspective.

• Communicating effectively when the client may perceive a request or a complaint is not addressed the way that the customer would like is of extreme importance. The customer will appreciate the fact that they've been heard and that their concerns have been acknowledged.

• Document, document, document. Communication is the key to excellent customer service. Not everyone learns or comprehends the same way. There are times when a conversation is more effective than an e-mail. When you're speaking with a customer, they can hear the tone in your voice and pick up on nonverbal cues that an e-mail just can not convey. When information is communicated verbally, follow up reiterating what was said and agreed to in an email. This way, there's a record verifying the conversation, and everyone is on the same page.

Regardless of the position one holds within an organization, recognizing the importance of each person's function to the success of the company helps to create a more cohesive work environment. Every employee has an important role, independently and as a team, to adhere to the processes, procedures, and guidelines, to ensure that the company is successful.

• The Owner or CEO of an organization plans, budgets and works so that the company's vision and success will come to fruition.

• It has been said that the janitors carry and distribute the most important paper in an organization!

• Every level and department in an organization matters. If an area is weak, the company may not succeed to the level that it should.

• Treating everyone with respect creates an environment where ideas, knowledge and experience are freely displaced and where people support one another. Such a team environment allows the organization to thrive, expand, retain and attract the best people.

The “sundown rule” (answer all e-mails or return all phone calls by the end of the business day) is a good rule to follow. Occidentally, it will be necessary to take time to gather all of the pertinent information to accurately respond to a client's concern or request. Let them know that! Even if you respond advising them that you will get back to them at a later date, their concern has been acknowledged and they're aware that you're working on a resolution or response. When the customer is happy, the business will thrive. Word of mouth endorsements and referrals can be as or even even more effective than paid advertisements.

Team Work: Be excited to work for your company! The more successful each individual is, the more successful your team will be.

• Working as a team, with mutual respect and effective communication, provides an opportunity for each individual to succeed and as a result, the organization will grow.

• Give credit where credit is due. Engaged employees are happy and productive employees! Happy clients are committed clients. It's a win-win for all!

Lease Cleaning Services – A Wise and Prudent Selection

Usually tenants have to sign a bond to rent a property on lease. They have to sign an agreement with the landlord to ensure the security of the property and its assets. Further, they have to insure the owner that their property will be kept in the same way as it was when the lease…

Usually tenants have to sign a bond to rent a property on lease. They have to sign an agreement with the landlord to ensure the security of the property and its assets. Further, they have to insure the owner that their property will be kept in the same way as it was when the lease was initiated. And to ensure this, tenants have to take care of the property and keep it clean. To get this job done, tenants need to avail end of lease cleaning services that is a very convenient and budget-friendly option to help them handover the place in its original condition.

The end of lease cleaning services is helpful for tenants since it will allow them to keep the house clean – from the kitchen to the courtyard without damaging any assets or item. Also, it makes possible for tenants to win the trust of landlord and get back their deposit amount from the owner while vacating the rental property.

There are many service providers operating in the market, who can help tenants and landlords to keep their property spick and span in every corner. They have a team of professionals to ensure your property will be gleaming.

The service providers perform cleaning works in diverse areas of the house such as kitchen cleaning that includes services like floor wiping, cupboard dusting, stove, oven and bench top cleaning, etc. They also perform bathroom maintenance that involves washbasin and toilet cleaning, mold removal, drawers and cabinet cleaning, mirror polishing, and much more.

They also ensure that the room is clean and has a bedroom that includes proper cleaning of all areas of the hall and rooms such as carpet cleaning, cobweb removal, ceiling fans cleaning, door spot cleaning, dusting, air conditioning cleaning, wardrobe cleaning, and lots more.

Further, they also perform services, like cleaning of window tracks, panel cleaning, fly screen cleaning, etc. And they also offer laundry cleaning, which includes cleaning of the dryer and filters of the washing machine. Beside, sink sanitizing and polishing, etc.

Above are some of the common services offered by the service providers in the market. For all such activities, they have experienced cleaning professionals, who can ensure to make all the areas and items get cleaned in the house from inside to outside with complete security. Here, the tenants can keep the property clean by availing services of the best end of lease cleaning firms and get back their deposits from the owner with ease.

It's recommended to hire end of lease cleaning services from reputed and experienced firms. A reputed property cleaning agency has experienced and professional cleaning experts, who can ensure to deliver the best cleaning results without damaging the property's items. Also, the company will charge reasonably for the cleaning services as per the industry norms.

How to Handle Your Tenant Showing Appointments

In the past we talked about ways to locate potential tenants or tenant buyers and what to say to them on the first phone call. Today, we are going to talk about showing the property to the potential tenant and getting a deposit to hold the home for them. This step in the process will…

In the past we talked about ways to locate potential tenants or tenant buyers and what to say to them on the first phone call. Today, we are going to talk about showing the property to the potential tenant and getting a deposit to hold the home for them. This step in the process will by far take up the most of your precious time so it is important that we get it right and make the most out of every appointment.

If you remember we ended our phone conversation with the prospect by asking them to call us to confirm their appointment. In most cases they will call and confirm. If you do not have one of two choices, you can call them and find out what is going on or you can move on to the next prospect. If I am having trouble filling a unit I will call them, if I do not think I will have trouble I do not follow up. To me this is a good way to screen them; if they can not simply call you when they said they would, they may not be the best tenants for you.

Always get to the property about 10 minutes early, you need to have enough time to prepare for the show you are about to put on. When you get there do the following:

· Pick up all loose trash in the yard

· Be sure the front door is wide open

· Turn on all lights and open doors to bedroom closets and bathrooms

· Open all window coverings to let the light in (without the window makes the place look bad)

· Plug in your air fresheners or do whatever smell good technique you prefer

· Start the fireplace if there is a gas log

· If you use flyers put them out where it is visible along with your application and any other marketing material.

The brighter the better and it needs to smell pleasant to make the best impression.

Now that you have made the absolute best first impression you can be sure to greet each prospect as they come to the door. Look them in the eye, smile and introduce yourself. Build report quickly by saying something about the weather, or ask them about their drive to the unit and then have them walk around on their own. Let them know to come and talk to you when they are done looking.

When they approach you call them by name (remember they love to hear their name and like people who use it) and ask them what they love about the house or ask them their favorite part of the house. If there is the smallest bit of interest they will respond. You will then want to agree with them and tell them that you love that part too. At this time get them talking about themselves and their situation. You can also use this time to start your screening process. Here are some example questions you can use:

· How many people will be moving with you?

Tell me a little about where you are living now. (this one is great, there is a reason that they are moving and you can dig into it and make them feel the pain of staying where they are to help encourage a quick decision)

· How do you and your landlord get along (if they do not, you do not want them, period)

· Where did you grow up?

· What do you do for a living?

This can go on forever. Your two goals here are to get some information about them and to let them talk about themselves for awhile. You know people become instant friends with other people who listen to them talk about themselves. Before talking about the rent you are hoping for be sure you have a good feeling for what they are looking for financially. Ask them what they pay now and what they can afford to pay.

I would spend at least 10 to 15 minutes on this before you talk about what you are looking for. At that time go over your price sheet with them or let them know what the rent and deposit is. Tell them about the number of calls you are getting and that you normally fill vacancies very fast. You will also want to let them know it takes you a few days to process the application, but most people do the application there and leave a deposit so you hold it for them. With no deposit you can not hold it and it is first come first serve. Right after explaining this, be sure they have an application in front of them with a pen and as soon as they give you the completed application, be sure they have the deposit to hold it.

Lastly, always try to get a full month payment from them for a deposit, but I would honestly take about anything I can get. Even if it is $ 100 that is a commitment by them and you will have a better chance of making it to a lease signing with a deposit.

Rental Property Management: Is It Really Worth It To Hire This Service?

Why should I hire the services of the rental property management organization to look after my property given on rent? It would be the first question from every landlord who has given his property on rent, if you ask them to use the services of any such group existing in your city. You will agree…

Why should I hire the services of the rental property management organization to look after my property given on rent? It would be the first question from every landlord who has given his property on rent, if you ask them to use the services of any such group existing in your city. You will agree that when a person lets his house or any part of his house for rent, his main goal is to earn profits from it to enjoy a better life and make payment of his various bills.

Giving a house on rent is one of the oldest practices carried across the world. If there are any used parts at home, people give it on rent to earn extra income from that part. To a certain extent, this practice seems possible to earn more income in short span of time without investing a single penny from the pocket. But, when a person has a huge amount of properties under his possession and he has given all of them on rent, then looking after all those properties at the same time could have been complicated for him, until he has enough time to look after them or has someone to take the care of those properties in his absence. However, for that it is imperative that either you or the other person taking care of your property should have proper knowledge of handling the property given on rent.

This is primarily because of lots of legal formalities associated with it, moreover, there are certain conditions where being a landlord you have to sort out any issue arising from your property to your tenant. Let us, for instance, say, while giving your house on rent you told your tenant that the house is equipped with an electrical converter to lighten the house during the power cut. But, during power cuts if that electrical converter did not work, then at that time it is obvious that your tenant will call you and complain about that issue. In such situation if he is staying in your house then it will be easier for you to rectify his problem, but if your rented house is quite away from your residence, at that time going out of home to solve the issue of an electrical converter will be laborious and irritating for you. Therefore, to cope with all these issues it will be better for you to acquire the service, property management group to look after all such complicated issues.

The above mentioned illustration of an electrical converter is just an example to understand the relevancy of the services offered by a property management group. There is a plethora of services offered by the expert working in these groups. These experts are well-versed with all legal activities which are expected to be performed by the landlord. Do you know, that before allowing someone to live in your house as a tenant it is imperatively expected from the landlord to cross check the background of your prospective tenant? May be your answer is yes, but do you know what to do if your tenant makes excuses in paying the rent on time, or starts making improper use of your prospective tenant. Hiring the services of experts working in property groups will help in overcoming all these problems.

These experts will properly advertise about the availability of your property to rent, conduct their interviews and cross check their credit from the local police station. Will collect rent from them on time. Make regular inspection of your property that it is not being damaged or improperly used by the tenants. Look after their phone calls during odd hours and reach at the site to resolve those issues. These experts will also help you in getting your house vacated from the tenants before the expiration of the agreement, in case if you wish to use the house for some personal work. Not only this, if at the end of tenancy agreement your tenants wish to continue the agreement, in that scenario, these experts will get all the paper work done strictly according to the rules and regulations, prescribing the new terms and conditions related to the rent and use of the house.

Sure Fire Tenant Screening

Aside from negotiating and sales, tenant screening is the most profitable skill a landlord can have. Why do I say that? Because if you do not screen tenants you will not have a profit. This month we are going to discuss how to properly screen a tenant. I have purchased several homes from beat up…

Aside from negotiating and sales, tenant screening is the most profitable skill a landlord can have. Why do I say that? Because if you do not screen tenants you will not have a profit. This month we are going to discuss how to properly screen a tenant. I have purchased several homes from beat up and tired landlords and it almost always was because they did not screen the people they put into their homes. It is important to understand that as a landlord you are providing a significant amount of credit and you need to protect yourself like any other credit would.

It all starts with a good application. The one I use is not the best but is really simple, I try to get the vital information while keeping it really short and easy for my prospects. I also use my application as a marketing tool for people who may want to turn into buyers or may qualify as buyers. These are good leads for mortgage brokers, real estate agents or for your own rent to own properties. I also want to know what skills they have and what tools they own. If they do not check the box for owning a vacuum we may have a problem!

The screening really starts on the first phone call which we talked about and continues with them showing up on time to the property. I always try to sneak a peek inside their car either when they first get there or when I walk them out. If their car is a disaster what do you think your unit will turn into? I also ask a lot of questions once I get the application. This really accomplishes two things; it puts you in control and makes your unit a scarcity increasing their desire to have it AND allows them to talk about themselves. Some of the things I am listening for include:

· Do not get along with previous / current landlord

· Did not get along with neighbors

· Landlord does not take care of anything (I will call the landlord and ask about this but I do not want a needy tenant)

· New jobs

· New relationships

· Bad relationships (domestic issues)

You will be surprised at what prospects will tell you. They will say things like drug addictions, criminal history, problems with kids or others and much, much more. I also hate it when they tell me how good of a tenant they are and how clean they are because that normally means they are messy and a pain in the ass.

I have a pretty good feeling about a tenant before I get back to my office. When I get back I pull credit and criminal back ground. Almost all tenants have bad credit so I am not overly concerned with that. What I will deny an application for is past due rent to other landlords. I also do not like to see small collection accounts like utility bills and cell phones. The service I use also pulls a check writing and an eviction report. If there are confirmed evictions in the last three years I will not rent to them. I also do not like to see bad check writing history although I normally will rent to them if they set up an auto pay service or only pay by money order. Finally when it comes to criminal records, drugs or domestic violence is an automatic denial. I have had a drug house once before and do not ever want that again. I do not care if the drug offense is very minor, if they got used with it there may be a bigger issue there. Other commitments I can look past with good explanations. I referred to a man that got in trouble for assaulting a police officer and he has actually turned out to be a great tenant. He is still in one of my duplexes today. I decided to rent to him because he told me the story and I believed him. He did make a mistake but is not a bad guy.

The most important part of the screening process is the past landlords. They will tell you how it really is. I want to know if they have a lot of people in and out of the unit, if they pay on time and if they have ever had a problem. My final question is always “would you rent to them again?” If you do not believe that it is really their landlord (ie they are writing a friend's name down to act as the landlord) you may want to ask them to confirm the rent amount but mention a different number than what is on the application. If it is a phony landlord they will agree with you but a real landlord will correct your mistake. I always check county records to see who actually owns the house they are moving from.

Finally, it is not a bad idea to call the previous two landlords, which is why I require it on my application. Occidentally a landlord will want a tenant out so bad they will tell you anything just so you will rent to them. This has not been my experience but I have heard of this type of thing going on. If you call the last two landlords you should not encounter this problem. Stay on top of tenant screening and stay on top of your profits.

Why Haven’t You Fixed This Yet?

You know the feeling, Christmas is fast approaching and the whole family is coming for Christmas dinner. All of a sudden you find yourself playing caterer, cleaner, menu designer, shopper, waiter and, of course, Chef! The pressure is rising you as you battle through the options of how you can possibly cook a turkey for…

You know the feeling, Christmas is fast approaching and the whole family is coming for Christmas dinner. All of a sudden you find yourself playing caterer, cleaner, menu designer, shopper, waiter and, of course, Chef! The pressure is rising you as you battle through the options of how you can possibly cook a turkey for 20 people, with all the trimmings, but you battle on anyway. The big day is planned! And a month out – what could possibly go wrong?

Then bang! The oven fails; which is fine, I mean how often do we use an oven in summer anyway? Exception Christmas day, of course. So, you think that there is no need to worry because Christmas is still a month away … we will call the property manager in a few days' time and they will fix it straight away! Because, after all, is not that what the property manager does, fix ovens?

So you finally get around to contacting the property manager, who of course realizes that this is an oven and needs attending promptly, so the property manager sends a work order to the appliance repairer to get them to investigate and hopefully fix as soon as possible. In some instances the property manager has their hands tied because a fastidious landlord needs to be identified and approved of such a direction prior to the property manager engaging a repairer (or any other tradespeople). Meanwhile a few days has already passed since the oven broke down. Do not worry, you think, it's OK, there are still 3 1/2 weeks until Christmas …

Well, like most trades, appliance repairers are very busy, and I mean, very busy! They can not come out to inspect the problem for at least 3 or 4 days as they are fully booked. Now, let me point out, if you owned the property (not a tenant) the same issue would apply, except most likely worse as the service service man would rank their “better” customer ahead of the once off oven repair. Of course, in this instance, your property manager is the better customer. This is because we give them lots of business every week and they hope that we will continue to do so, therefore, they look after your property manager as best they possibly can.

Now, back to your growing stress! The serviceman is booked and will be coming on Monday, but that's OK because its still 3 weeks until Christmas, and sure they will be able to find the problem and fix it with plenty of time to spare. Not so likely, I'm afraid. Chances are there is one of 2 scenarios: scenario one, a part needs to be replaced; or scenario 2, the oven needs to be replaced. Simple right? I'm afraid not.

Let's consider scenario 1, thermostat is broken and needs replacing. OK, no big problem, surely? The property manager reports back to the landlord (after trying to get hold of them for a day or 2) that the thermostat is broken and needs replacing, of course the owner is not happy about the expense, but agreements to proceed regardless. The property manager then goes back to the appliance repairman and authorizes the repair. No big stress, there is still two and a half weeks until Christmas.

But, the thermostat needs to be ordered, and guess what – not from Frankston, but Frankfurt! That's a week for delivery, assuming all goes well. All is good; Christmas is still a week and a half away, so plenty of time. Oh no, it is Christmas remember? Everyone is now on a “go slow”, especially parcel deliveries who are inundated, so now the 1 week delivery is 2 weeks. OK, I think you get the point; the oven will not be fixed in time for Christmas!

Maybe we should hope for scenario 2, a new oven is required … Well, there is a process here too; first and foremost are quotes. It is feasible and expected that a landlord would require three quotes for a replacement of an expensive item like an oven, and often a landlord will want to investigate themselves (as they are of course entitled to do). The process of earning quotes can also be a long one. Why? I'm not really sure, but maybe people do not really enjoy spending time quoting because they fear the likely possibility of not getting the work when they are so busy just trying to stay on top of the call outs. In short, promises will occur. I have not even mentioned the problem of size, what size was the old unit, what size is the available space? There might even be cabinetry to fit, these things are strictly “plug and play”, shall I dare mention compliance changes – no, lets not go there as well, that's a whole other story!

Please appreciate that this is a standard situation, it happens all the time. It is not the property manager's fault, it's not the landlord's fault nor is it the appliance repairer's fault, and it is just the system and timing differences of numerous parties trying to fix a problem. This is, of course, the example of an appliance; appliances are the most difficult in timeline as often parts will need to be ordered, but please appreciate that this scenario also applies to all repairs and many maintenance issues.

The moral of the story is an easy one, even if you were the owner of the property these delays would still apply, and perhaps the delays would be even longer. So, consider this before giving your property manager a serve for the fact you need to cook your turkey on the barbecue this Christmas!

Side note: This is a true story, my oven is in fact broken and I can not see it repaired in time for Christmas, but no fear, BBQ turkey it will be, and it will be spectacular!